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Bed-Stuy House Pulls Off More Ridiculous Flip Than Expected

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Remember this winter when that guy bought a Queen Anne-style townhouse in Bed-Stuy for $1.2 million and then, three days later, re-listed the property for an additional $650,000? Well, not only has the site of the most egregious flip in history found a new buyer, but Brick Underground reports that said buyer paid an additional $250,000 to the $1.85 million ask, and all in cash. The property's new sale price is just $100,000 off from the neighborhood record for priciest pad, a $2.2 million Parfitt Brothers townhouse at 254 Gates Avenue, reports Brownstoner. The difference between the two townhouses? 196 Hancock Street is still in need of major T.L.C. whereas 254 Gates Avenue is renovated. However, according to BU, 196 Hancock Street could have also become Bed Stuy's priciest pad with a $2.2 million offer, declined for the convenience of working with an all-cash, New York-based buyer. A sign of the times, indeed.

· Ambitious Bed-Stuy Flip 196 Hancock Closes $250,000 Above Ask ['Stoner]
· Flip or Flop Update: Bed Stuy Brownstone in Need of Work Sells For Almost $1 Million More Than It Fetched Four Months Ago [Brick Underground]
· Bed-Stuy Buyer Owns House For 3 Days, Now Seeks 54% Profit [Curbed]
· All Flipping Out coverage [Curbed]